Enterprise Financial Services (NASDAQ:EFSC) PT Lowered to $45.00 at DA Davidson

Enterprise Financial Services (NASDAQ:EFSC) had its price target reduced by DA Davidson from $47.00 to $45.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the bank’s stock. DA Davidson also issued estimates for Enterprise Financial Services’ Q2 2024 earnings at $1.11 EPS, FY2024 earnings at $4.55 EPS and FY2025 earnings at $4.60 EPS.

A number of other equities research analysts have also recently weighed in on EFSC. Piper Sandler reduced their price objective on Enterprise Financial Services from $48.00 to $47.00 and set an overweight rating for the company in a research note on Wednesday, January 24th. Keefe, Bruyette & Woods reduced their price target on shares of Enterprise Financial Services from $51.00 to $49.00 and set an outperform rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Enterprise Financial Services presently has a consensus rating of Moderate Buy and a consensus price target of $47.00.

Enterprise Financial Services Stock Performance

Shares of Enterprise Financial Services stock opened at $38.80 on Wednesday. The firm has a market capitalization of $1.46 billion, a P/E ratio of 8.31 and a beta of 0.99. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.28. Enterprise Financial Services has a 52 week low of $32.97 and a 52 week high of $46.17. The firm’s 50 day moving average is $39.35 and its two-hundred day moving average is $40.03.

Enterprise Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be issued a $0.26 dividend. This is an increase from Enterprise Financial Services’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, June 14th. This represents a $1.04 annualized dividend and a dividend yield of 2.68%. Enterprise Financial Services’s payout ratio is presently 21.41%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its stake in shares of Enterprise Financial Services by 7.0% in the fourth quarter. Wellington Management Group LLP now owns 2,295,011 shares of the bank’s stock valued at $102,472,000 after buying an additional 150,023 shares in the last quarter. Vanguard Group Inc. increased its holdings in Enterprise Financial Services by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 1,994,848 shares of the bank’s stock valued at $89,070,000 after buying an additional 48,583 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Enterprise Financial Services by 5.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,912,329 shares of the bank’s stock valued at $85,387,000 after acquiring an additional 99,703 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Enterprise Financial Services by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 411,413 shares of the bank’s stock worth $15,428,000 after acquiring an additional 16,069 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Enterprise Financial Services by 34.3% in the 4th quarter. Jennison Associates LLC now owns 411,256 shares of the bank’s stock worth $18,363,000 after acquiring an additional 105,004 shares during the period. 72.21% of the stock is owned by hedge funds and other institutional investors.

About Enterprise Financial Services

Enterprise Financial Services Corp operates as the holding company for Enterprise Bank & Trust that offers banking and wealth management services to individuals and corporate customers primarily in Arizona, California, Florida, Kansas, Missouri, Nevada, and New Mexico. It provides checking, savings, money market accounts, and certificates of deposit.